The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1887-12-22

OUTSTANDING DOnuc Oh the govern
ment by the terms Of the act OF
March 1S, 1869, became payable at
the option Of the government when
United States notes should be re-
deemable in coin at par, at the OPP
ton Of the holder, which has been
ever since Jan. 1, 1879.
Should the accumulation Of Wealth
Be Limited?
The entire property Of the United
States is estimated by those most
competent to judge at 460, 900, 00O, 900.
The total population is 90 millions,
hence if the property was equally dis
tributed, each person would possess
$1,000. But it is not; ito distribution,
on the contrary, makes three distinct
classes. Let US for . moment look at
each and see what dangers their ex-
istence threaten, and what remedies
should be adopted to avert them.
Less than 100, 900 persons own over
$2OO, 600 each, their aggregate wealth
being thirty billion dollars, one half
of all the wealth Of the country; an
average Of e3O0, 900 each.
Forty millions Of people own the
remaining thirty billion dollars, or
an average Of $50 each. Some of
these forty millions own considerably
more than $3.50 and many Of them OF
course much less. The third class IL
10000, 900 strong and IL not worth q
dollar in the world, and Is increasing
in numbers more rapidly than either
Of the other classes, its recruits chief
ly coming from the middle class.
1t should be the settled policy OF
the government to prevent increas-
ing the number Of this third class. 20
that it shall never constitute q pre-.
ponderating majority OF our popula-
ton. Such an event would bode on
~ evil to our institutions, compelling
the persons OF wealth to maintain a
standing army Of these mendicants
to protect them In the possession of
their aceumulations.
The twenty million Of the poorer
class consume less than the same
number Of the middle or better class:
and as the most poverty stricken
class Is increased In numbers, il the
productive class injured In the de.
creasing demand for. and consump.
ton Of its products.
This leads US to remark incident
ally as we proceed, that the best pro-
tective system any country can
adopt is financial system which will
enable the largest proportion of ite
people to have good homes, good
clothes, good everything, with an
abundance Of everything to eat.
The system in vogue in this coun.
try is the outgrowth Of years OF
study, and will require time and q
great development Of the intellect
before it's evils can be corrected
This is the present work of the
knights Of Labor, None question
the existing evils; few suggest RENE.
dies; all except the privileged few
complain.
The receipts from taxation for thu
federal government, for 1887, WA
nearly 100 million dollars. The sum
collected for expenditures in thu
states for state, county, municipal,
school and road purposes will aggre
gate 800 million dollars. In addition
to these items il the mountain oil
interest upon the private indebted
ness Of the country, at least nine
tenths Of ell OF which Is paid by tn,
10 millions Of people who have but al
average Of $3.50 each.
Our remedy is not to level dowr
those belonging to the privileged few
but to level up the oppressed mill
ions.
The first step Is to restore the gov
eminent securities held by the privil.
eyed few to the list Of taxable prop
erty, proportionately relieving the
producers Of the country.
Notes, mortgages and other evi.
dences Of debt, should be taxed and
should not be collectible unless the,
had been listed for taxation.
Trusts, syndicates, telegraphs, rail
roads, coal combinations, standard
oil and all similar organization,
should be taxed upon their incomes
individuals should likewise be taxed
upon their incomes, and the harvest
they reap in fields they have no,
sown should be largely taken fol
public use.
The government should not under
any pretext furnish another dollar to
the national banks, but il 1t makes
loans at one per cent, they should be
made upon good security to person,
engaged in the productive industries
Of the country, Non interest-bear.
ing, full legal tender treasury note,
should be issued In denominations Of
one, two and five dollars, sufficient
to meet and pay every pension claim
annually.
Thus would we put limitations up
on the acquisition Of wealth by light.
euing the load Of the oppressed and
heavy laden, placing their burdens
partly oil the dead-heads riding in
the ear of freedom who now should
pay their fare or be put of.
Promptness is q good motto. II il
fharN 10 find anything more prompt
than st. Patrick's Pills. They arc q
pleasant caihartic and = good lnedi.
cine. Sold ny Lowry , Connolly Syl